Aircraft Cabin Lighting Market Worth $2.0 Billion by 2022, at a CAGR of 6.48% - Exclusive Report by MarketsandMarkets(TM)
CHICAGO, March 5, 2020 /PRNewswire/ -- The aircraft cabin lighting market is projected to grow from an estimated USD 1.46 billion in 2017 to USD 2.00 billion by 2022, at a CAGR of 6.48% during the forecast period. This growth can be attributed to factors, such as increased demand for interior light systems, as most of the airlines are upgrading their cabin interiors to increase efficiency and provide better service to passengers. However, the lack of profitable airlines in emerging economies is expected to restrain the growth of this market.
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Based on end user, the aftermarket segment is projected to account for the larger share of the aircraft cabin lighting market during the forecast period.
Based on end user, the aftermarket segment is estimated to account for the largest share of the aircraft cabin lighting market in 2017. The aftermarket phase is one of the crucial phases of the aircraft cabin lighting market, as post-delivery retrofit modification is done by the airlines. All major companies are focusing on aftermarket and Maintenance, Repair and Overhaul (MRO) services for cabin lighting.
Based on aircraft type, the wide body aircraft segment is projected to grow at the highest CAGR during the forecast period.
Based on aircraft type, the wide body aircraft segment is projected to grow at the highest CAGR during the forecast period. The growth of this market can be attributed to the demand for enhancing passenger experience in commercial aircraft and due to increase in deliveries and order of wide body aircraft by major airlines across the world.
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North America is estimated to account for the largest share in the aircraft cabin lighting market in 2017. Major aircraft manufacturers, such as Boeing (US), Lockheed Martin (US), Bombardier (Canada), Bell Helicopter (US), Sikorsky Aircraft (US), BAE Systems (UK), The Raytheon Company (US), and General Dynamics (US), among others, are based in this region, and thus generate high demand for aircraft cabin lights. North America is projected to lead the aircraft cabin lighting market during the forecast period, in terms of market share. The Asia Pacific aircraft cabin lighting market is projected to grow at the highest CAGR during the forecast period, owing to the presence of emerging aircraft manufacturers, such as COMAC (China) and Mitsubishi Aircraft (Japan), among others. The Asia Pacific market has witnessed strong growth in the past few years, mainly due to the rising air passenger traffic. The growth in air passenger traffic has resulted in the increased demand for aircraft cabin lights, and this trend is expected to continue over the next five years.
Existing interior lights installed in aircraft have various drawbacks in terms of efficiency, reliability, durability, and weight. The advent of advanced LED lighting has helped eliminate these drawbacks, and the advantages of LED lights over conventional aircraft cabin lights are driving the retrofit market. The replacement of existing aircraft cabin lights with technologically advanced LED lights by airlines are leading to the growth of the aircraft cabin lighting market.
Major players operating in the aircraft cabin lighting market include Zodiac Aerospace (France), United Technologies (US), Diehl Stiftung (Germany), Rockwell Collins (US), Astronics (US), STG Aerospace (UK), Luminator Technology (US), and Honeywell (US). These key players offer various aircraft cabin light types including reading lights, ceiling lights, lavatory lights, signage lights, and wall lights. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, and Asia Pacific.
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